S. 4400, known as the "Small Entity Update Act," directs the Securities and Exchange Commission (SEC) to research and create rules about what qualifies as a "small entity" under U.S. securities laws. Within one year of the bill's enactment, and then again every five years,...
Simple Explanation
Imagine someone making sure small businesses have the right rules to follow when it comes to money. This bill wants the grown-ups in charge of those rules to check every so often if their rules make sense for small businesses and change them if they need to because of things like the prices going up over time, just like how prices might go up for toys or snacks.